THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1836.

CHAPTER 39.

An act supplemental to an act to incorporate the Cum-
berland Hotel Company, in Cumberland.

CHAP. 39.

Passed Feb.11
1837,

SECTION 1. Be it enacted by the General Assembly of
Maryland. That at any time after two hundred shares
of stock shall or may have been subscribed, an election
of Directors may be made in the form and manner pre-
scribed in the act to which this is a supplement.

Condition to or-

ganizc.

SEC. 2. And be it enacted. That the directors when so
elected, shall possess all the rights, powers and privile-
ges provided in said act.

Directors em-
powered.

SEC. s. And be it enacted, That when two hundred
shares or more of the capital stock shall he subscribed
as aforesaid, the subscribers as holders of said stock,
their successors and assigns, shall be and are hereby
incorporated by the name of the Cumberland Hotel

ers.

Company in Cumberland, but shall not commence
building, or begin any other operation, until the sum
of twenty-five thousand dollars shall have been actual-
ly subscribed, and the sum of twelve thousand five hun-
dred dollars paid in current money : and provided, that
the said president and directors shall be held and firmly

hound in their private capacities for all debts created
by said company, in case those debts should at any
time exceed the sum actually paid in, and that any di-
rector who was absent at the time of creating such ex-

Private respon-
sibility.

cess, may exonerate himself from any such liability,
by representing the same to the Governor of Maryland,

Method to ex-
honerate.

or a meeting of the stockholders, which he shall have
the power to call for that purpose; provided, that
nothing in this act shall be construed to exonerate the
capital stock or any of the assets of said company from
any debts created by any board of directors.

Proviso.

SEC. 4. And be it enacted, That nothing in this act
or in the art to which this is a supplement, shall be
construed to confer any banking privileges on said
company.

Banking pro-
hibited.